Shutterstock (NYSE:SSTK) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Shutterstock (NYSE:SSTK) from a sell rating to a hold rating in a research report sent to investors on Monday, ValuEngine reports.

A number of other research analysts have also recently issued reports on SSTK. SunTrust Banks reaffirmed a hold rating and issued a $44.00 target price on shares of Shutterstock in a report on Monday, August 5th. Zacks Investment Research raised shares of Shutterstock from a sell rating to a hold rating in a report on Wednesday, May 1st.

Shares of Shutterstock stock opened at $34.12 on Monday. Shutterstock has a 12-month low of $31.77 and a 12-month high of $55.76. The stock has a market cap of $1.25 billion, a PE ratio of 31.54, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11. The company has a 50-day moving average of $37.96 and a two-hundred day moving average of $41.43.

Shutterstock (NYSE:SSTK) last issued its earnings results on Tuesday, August 6th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Shutterstock had a net margin of 5.19% and a return on equity of 13.64%. The company had revenue of $161.74 million during the quarter, compared to analysts’ expectations of $171.93 million. During the same period last year, the company posted $0.30 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, research analysts predict that Shutterstock will post 0.62 earnings per share for the current fiscal year.

In other Shutterstock news, Director Deirdre Mary Bigley sold 1,592 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $39.41, for a total value of $62,740.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 46.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Redmond Asset Management LLC increased its stake in shares of Shutterstock by 1.9% during the 1st quarter. Redmond Asset Management LLC now owns 12,972 shares of the business services provider’s stock worth $605,000 after purchasing an additional 237 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Shutterstock by 0.9% during the 2nd quarter. Arizona State Retirement System now owns 28,953 shares of the business services provider’s stock worth $1,135,000 after purchasing an additional 271 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Shutterstock by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 13,224 shares of the business services provider’s stock worth $476,000 after purchasing an additional 290 shares in the last quarter. NumerixS Investment Technologies Inc boosted its position in Shutterstock by 100.0% during the second quarter. NumerixS Investment Technologies Inc now owns 800 shares of the business services provider’s stock worth $31,000 after acquiring an additional 400 shares during the last quarter. Finally, Texas Permanent School Fund boosted its position in Shutterstock by 3.9% during the first quarter. Texas Permanent School Fund now owns 12,624 shares of the business services provider’s stock worth $589,000 after acquiring an additional 472 shares during the last quarter. 57.49% of the stock is owned by institutional investors and hedge funds.

About Shutterstock

Shutterstock, Inc provides digital content, and tools and services in North America, Europe, and internationally. It offers digital imagery services that include licensed photographs, vectors, illustrations, and video clips, which is used in visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and music services comprising music tracks and sound effects that are used to complement digital imagery.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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